Colombia sets sights on attracting Korean businesses, investments
The Embassy of Colombia in Seoul and the Commercial Office of Procolombia in Korea are striving to attract Korean companies with expertise in electric vehicles and renewable energy sectors to their nation. They took an active part in the 2024 Korea International Electric and Energy Industry Exhibition, held at COEX in Seoul from April 3 to 5.
This year’s exhibition centered on the crucial role of transmission and distribution equipment for electrical energy in energy transformation, electric vehicles and renewable energy generation.
Colombia’s involvement featured a seminar titled “Colombia as a gateway to the Americas,” which focused on business expansion strategies into Central America, South America and North America from Colombia. The seminar garnered significant interest from sector-linked companies, aligning with Colombia’s industrialization and national development plans that aim to decarbonize the nation’s economy.
The collaborative seminar, conducted with Procolombia, Invest Pacific and the Korean Electrical Manufacturers Association (KOEMA), attracted approximately 25 representatives from Korean companies. It provided insight into Colombia’s business landscape and opportunities, with presentations by Colombian Ambassador to Korea Alejandro Peláez, Procolombia’s Executive Director in Korea Shirley Vega, Invest Pacific’s Investment Manager Mauricio Concha and KOEMA Vice President Lee Woosik.
Meanwhile, the embassy maintained a booth, offering detailed information about Colombia as an investment destination for the electrical equipment sector, emphasizing the country’s capacity as an export platform for such products to the American continent.
Procolombia, an agency under the Colombian Ministry of Commerce, Industry and Tourism, promotes the country for foreign investment, exports of value-added products and services and tourism. With offices in 28 countries, including Korea, it plays a vital role in strengthening commercial ties between nations.
Invest Pacific, dedicated to promoting foreign direct investment in Colombia’s Valle del Cauca department, creates a favorable business climate across various sectors.